Rite Aid Corporation recently announced its voluntary Chapter 11 filing. The organization’s move provides further insights into a broader landscape of smaller companies and the strategic role Chapter 11 plays in resurrecting business viability. The move demonstrates that even smaller, well-established, businesses recognize the potential… Read More »Reviving Mid-Market Business Viability: About Rite Aid’s Chapter 11 Approach
The one message no business owner ever wants to hear from a lender is: “While we’d like to be supportive, we’re concerned enough about your business to advise you to engage with one of our selected turnaround consultants. A turnaround consultant can further assist you in… Read More »What Should Business Owners Actually Do If Lenders Suggest They Need Help?
Originally published in The ABF Journal A restructuring can seem overwhelming at the onset. Especially in the wake of a potential bankruptcy or sale. Patrick Walsh breaks down how a turnaround can be accomplished step by step. He shows how even a troubled company can… Read More »A More Detailed Turnaround Example – the Auto Parts Industry
Upon the start of a business turnaround, and when a turnaround management consultant is engaged, there are many stakeholders interested in hearing about their findings. Management, as well as owners, want to know what the consultant plans to do and why. They want to know when positive results can be… Read More »Communication is Important for Business Turnaround Success
Upon the start of a business turnaround, and when a turnaround management consultant is engaged, there are many stakeholders interested in hearing about their findings. Management, as well as owners, want to know what the consultant plans to do and why, and when positive results can be expected. No doubt about… Read More »Communication Protocol: Important Component of a Business Turnaround
The feasibility requirement in the U.S. Bankruptcy Code requires a finding from the Bankruptcy Court that “confirmation of a plan is not likely to be followed by the liquidation, or the need for further financial reorganization, of the debtor or any successor to the debtor… Read More »Chapter 22 is Not Necessarily a Bad Thing